Film Industry jobs to be cut at Warner Bros starting today

After it was announced that Warner Bros would be cutting about 10% of its workforce, staff will begin to feel the pain today as layoffs get underway.

According to Variety, Warner Bros will be axing up to 1000 jobs at the studio in a cost-cutting drive that will make efficiencies at Time Warner, and reduce overheads.

The news won't be forthcoming for film and TV execs who have been with the company for a number of years however despite this setback there is good news to come for film job prospects in California.

New applications for the $230 million tax credit program recently announced will be open in May 2015, rising to $330m for the 2016-2017 fiscal year . TV and film productions will be able to apply for tax relief and the scheme is set to create thousands of new film industry jobs and lure more productions back to Hollywood.

After years of decline, Hollywood finally has a state-wide consensus that encourages inward investment with film tax breaks, which is vital to the success of the local film industry.

However, some may argue that they don't go far enough despite amounting to a significant increase on the pre-existing tax breaks in place. In comparison, France recently announced it was going to allocate $828 million to support film & TV production, more than double the commitment in California, which has proved controversial given that the country faces a significant budget shortfall.